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- Kenya, Tanzania braces for torrential floods as Cyclone Hidaya approaches
- EAC monetary affairs committee to discuss single currency progress in Juba talks
- Transport and food prices drive down Kenya’s inflation to 5% in April
- Payment for ransomware attacks increase by 500 per cent in one year
- History beckons as push for Kenya’s President Ruto to address US Congress gathers pace
- IMF’s Sub-Saharan Africa economic forecast shows 1.2 percent GDP growth
- The US Congress proposes extending Agoa to 2041, covering all African countries
- Millions at risk of famine as fuel tax row halts UN aid operations in South Sudan
Investing
- Legal ruling favors Kenya Ports Authority (KPA) and Kenya Revenue Authority (KRA), allowing clearance of Sh145 million consignment despite ownership objections.
- Dispute centered on transfer of property and risk to Dooba Enterprises Ltd, with objecting companies claiming previous ownership based on contractual agreements.
- Case highlights importance of clear contractual agreements, documentation, and effective dispute resolution mechanisms in international trade.
An array of goods valued at $1 million (KSh145 million) is set to be cleared from the Mombasa port after a legal battle between five companies and two key entities, the Kenya Ports Authority (KPA) and Kenya Revenue Authority (KRA). The consignment, held in four containers, faced opposition from the companies, including Ningbo Ningshing Trading Group Inc., Top Anchor Industries, Ningbo Jiaje Water-Meter Manufacture Co. Ltd Inc., Ningbo Texilong Pipe Industry Co. Ltd, and Quanzhou Datouyi Technology Co. Ltd.
However, Mombasa High Court judge Kizito Magare ruled in favor of KPA …
- Africa Fertiliser Financing Mechanism will avail 8000 tons of fertiliser.
- 5.533 million Kenyan farmers are registered for the government’s subsidised fertiliser programme.
- African Development Bank granted Kenya $67 million in 2022-2023 through its African Emergency Food Production Facility.
The Africa Fertiliser Financing Mechanism has launched a project to help deliver 8,000 tons of fertilisers to 100,000 smallholder farmers in Kenya to boost harvests and incomes.
Through its Fertiliser Financing for Sustainable Agriculture Management Project, the Mechanism will provide a $2 million partial trade credit guarantee and a grant of $219,000 to Apollo Agriculture Limited, a Kenyan corporation, to facilitate the company’s fertiliser sales.
The Norwegian Agency for Development Cooperation, through a contribution of $10.15 million to the Africa Fertiliser Financing Mechanism, is also supporting the project.
Representatives of the African Development Bank, which manages the Mechanism, Apollo Agriculture and the Kenyan and Norwegian governments attended the launch event in Nairobi.…
- Over 300 startups are converging in Abu Dhabi between May 7th and 9th for three days of innovation, collaboration, and transformative dialogue.
- Key topics on the agenda include the rise of startups in biotechnology, the integration of technology into enterprises for financial resilience, and customer acquisition and retention.
- Seven high-level roundtable meetings are slated to help startup entrepreneurs learn from experts about the latest global investment issues.
AIM Congress, now on its 13th edition, is gearing up to host over 300 startups from diverse fields of innovation and industries, marking a huge milestone for the global showcase in the United Arab Emirates (UAE).
Set to unfold from May 7th to 9th, 2024, at the Abu Dhabi National Exhibition Centre (ADNEC), the event promises a platform for innovative solutions, investment opportunities, strategic partnerships, and knowledge sharing among policymakers and entrepreneurs worldwide. ADNEC, which offers a total area of 153,678 square metres …
- Tullow’s 2023 operating revenue surpasses expectations with strengthened Group financial position through a cut in debt.
- British firm has secured long-term capital through a $400 million debt from Glencore Energy.
- Explorer is projecting a $800 million free cash flow from 2023–2025 and a sustainable revenue flow outlook thereafter.
British exploration firm, Tullow Oil, has singled out Kenya oil project as one of its key areas in production growth for 2024, as it expects to deliver $800 million in operating revenue from 2023 to 2025.
This is captured in its financial results for 2023, where Tullow reiterated the delivery of its plan, which is achieving targeted results and a much-improved business. During the year, Tullow continued to evolve and built a strong and unique foundation to create material value, the company reported.
Several significant milestones were achieved in 2023, including the start-up of Jubilee South East which has given Ghana’s upstream …
- The AfDB and partners in Rabat, Morocco, are organizing the 2024 Africa Investment Forum to catalyze investments in Africa’s agriculture, infrastructure, and renewable energy.
- The forum is a pivotal platform for advancing Africa’s economic integration, promoting policy innovation, and encouraging private-sector engagement and international collaboration.
- By aligning with sustainable development, inclusivity, and green finance goals, the Africa Investment Forum aligns with global sustainability goals, positioning Africa in the transition to a green economy and attracting ethical investments.
Set against the vibrant backdrop of Rabat, Morocco, the 2024 Africa Investment Forum Market Days, scheduled for December 4–6, is yet another cornerstone event for continental and global investors seeking growth opportunities in the continent.
The African Development Bank and seven founding partners will back this forum to drive investment-ready deals to fruition, further highlighting its critical role in Africa’s economic landscape.
Africa Investment Forum a catalyst for investment mobilisation
Since its inception …
- East African Cables is a private limited liability company incorporated in mainland Tanzania. It manufactures extensive cables for domestic and industrial lighting and power electricity transmission.
- The sale is subject to regulatory and shareholders’ approval.
- Upon completion of the sale, EAC Tanzania will cease being a subsidiary of the company.
Msufini Tanzania Limited (MTL), a chlorine and sodium hydroxide manufacturer, is set to buy a majority stake in East African Cables’s Tanzanian subsidiary if regulators and stakeholders approve an agreed deal between the two firms.
East African Cables, which is listed on the Nairobi Securities Exchange, has entered into a share purchase agreement with Msufini for the sale of 16 218,000 ordinary shares at a value of Tsh10, constituting 51 per cent of the issued share capital of East African Cables (Tanzania) Limited.
East African Cables is a private limited liability company incorporated in mainland Tanzania. It manufactures extensive …
- ZAVDOZ Group of Companies and Andar Development sign $4.9 million deal to introduce elite wooden houses fit for the hot Gulf region climate.
- Beyond the deals, Dubai WoodShow is serving as a platform for networking, and connecting manufacturers, suppliers, experts, and industry enthusiasts.
- Dubai WoodShow 2024 is not just a display of what is possible today but a glimpse into the future of woodworking, highlighting the industry’s innovation, sustainability, and efficiency initiatives.
The Dubai International Wood and Woodworking Machinery Exhibition, known as the Dubai WoodShow 2024, continues to carve its niche in the global wood industry, marking another successful second day of million-dollar deals, insightful industry discussions, and networking opportunities for investors.
As the curtain falls for Dubai WoodShow 2024 under the vibrant skies of Dubai, it not only showcases the latest innovations but also serves as a fertile spot for lucrative business-to-business (B2B) engagements, demonstrating its pivotal role …
- March 3rd-7th expo underscores Dubai’s pivotal role as a global business hub.
- It also highlights the vibrant dynamics of the wood industry, setting the stage for future advancements and opportunities.
- Exhibitors are showcasing state-of-the-art products and technologies, including CNC machining centers, drilling and fitting insertion machines, panel dividing saws, and more.
The Dubai International Wood and Wood Machinery Exhibition (Dubai WoodShow 2024) explores the nexus of innovation, investment, and global collaboration within the wood and woodworking machinery industries across economies.
As the 20th edition of this event unfolds, it not only underscores Dubai’s pivotal role as a global business magnet but also highlights the vibrant dynamics of the wood industry, setting the stage for future advancements and opportunities.
Dubai WoodShow 2024: A global meeting of wood industry leaders
The expo, which was inaugurated by His Excellency Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, is attracting …
- This project is expected to improve and increase water supply from 96 per cent to 100 per cent in Tanga City.
- The government of Tanzania adopted the Alternative Project Financing (APF) strategy in 2021
- Mark Napier, CEO of FSD Africa, commended the collaborative effort behind the Tanga UWASA Green Bond.
The first ever Sub-national Water Infrastructure Green Bond in East Africa, worth $20.8 million, has been issued by Tanga Urban Water Supply and Sanitation Authority (Tanga UWASA), an autonomous water utility.
This landmark transaction would fund the expansion and improvement of sustainable water supply infrastructure and environmental conservation within Tanga City and nearby townships. The 10-year project revenue bond listed at the Dar es Salaam Stock Exchange (DSE) offers an attractive interest rate of 13.5 per cent per annum to be paid semiannually.
The government of Tanzania adopted the Alternative Project Financing (APF) strategy in 2021 because of the need …
